Stock Market News

Reality TV slowdown drives Hollywood production decline

2024.07.17 15:16

By Lisa Richwine

LOS ANGELES (Reuters) – Los Angeles experienced a hefty decline in reality TV production as Hollywood worked to recover from dual labor strikes last year, according to statistics released on Wednesday.

Actors, writers and crew members have been hoping for a rebound in filming across all genres after last year’s strikes halted most production starting in July.

But from April through June this year, the number of on-location filming days in the Los Angeles area fell 12.4% below already low levels of a year earlier, a report from permitting organization FilmLA found. The organization issued permits for 5,749 shooting days during the quarter this year.

In the comparable period in 2023, production had already started to wane ahead of a Writers Guild of America strike in May. Filming dropped further when actors walked off the job in July.

This year’s decline was driven by a 56.9% drop in reality TV production, the FilmLA report said.

The main reason, said FilmLA spokesman Philip Sokoloski, was likely the widespread curtailing of production from the high levels of recent years as investors demand profits from the media industry’s switch to streaming.

Also, some studios are waiting to start new projects in case of another strike. The Teamsters union is trying to negotiate a new labor agreement before its contract with Hollywood studios expires on July 31.

© Reuters. FILE PHOTO: The Hollywood sign is seen in Hollywood, Los Angeles, California, U.S. October 19, 2017. REUTERS/Lucy Nicholson/File Photo

Filming of scripted shows increased during the April-June quarter. Drama productions rose 98.3% and comedy productions more than doubled.

Feature-film production fell 3.3% in the quarter and commercial production dropped 5.1%, FilmLA said.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 96,389.83 2.00%
ethereum
Ethereum (ETH) $ 3,383.56 1.61%
tether
Tether (USDT) $ 0.999262 0.05%
xrp
XRP (XRP) $ 2.18 3.36%
bnb
BNB (BNB) $ 690.08 1.97%
solana
Solana (SOL) $ 190.20 2.59%
dogecoin
Dogecoin (DOGE) $ 0.315623 3.13%
usd-coin
USDC (USDC) $ 1.00 0.09%
staked-ether
Lido Staked Ether (STETH) $ 3,380.77 1.50%
cardano
Cardano (ADA) $ 0.873038 2.56%
tron
TRON (TRX) $ 0.257214 1.10%
avalanche-2
Avalanche (AVAX) $ 37.67 4.14%
the-open-network
Toncoin (TON) $ 5.79 1.39%
chainlink
Chainlink (LINK) $ 23.01 3.18%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,013.87 1.75%
shiba-inu
Shiba Inu (SHIB) $ 0.000022 2.17%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,186.77 2.03%
sui
Sui (SUI) $ 4.24 3.52%
hedera-hashgraph
Hedera (HBAR) $ 0.286605 7.37%
stellar
Stellar (XLM) $ 0.360051 3.81%
bitget-token
Bitget Token (BGB) $ 7.70 19.02%
polkadot
Polkadot (DOT) $ 7.03 3.62%
weth
WETH (WETH) $ 3,381.63 1.59%
hyperliquid
Hyperliquid (HYPE) $ 27.08 3.49%
bitcoin-cash
Bitcoin Cash (BCH) $ 442.23 2.42%
leo-token
LEO Token (LEO) $ 9.11 3.67%
uniswap
Uniswap (UNI) $ 13.82 3.12%
litecoin
Litecoin (LTC) $ 103.71 3.47%
pepe
Pepe (PEPE) $ 0.000018 1.78%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,569.87 1.60%
near
NEAR Protocol (NEAR) $ 5.13 3.16%
ethena-usde
Ethena USDe (USDE) $ 0.998136 0.03%
usds
USDS (USDS) $ 1.00 0.16%
aave
Aave (AAVE) $ 342.89 3.41%
aptos
Aptos (APT) $ 9.00 3.22%
internet-computer
Internet Computer (ICP) $ 10.43 3.84%
crypto-com-chain
Cronos (CRO) $ 0.150679 2.57%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.483857 3.20%
mantle
Mantle (MNT) $ 1.19 2.00%
ethereum-classic
Ethereum Classic (ETC) $ 26.25 1.57%
vechain
VeChain (VET) $ 0.04709 5.44%
render-token
Render (RENDER) $ 7.24 1.46%
whitebit
WhiteBIT Coin (WBT) $ 24.72 0.06%
monero
Monero (XMR) $ 190.83 0.22%
bittensor
Bittensor (TAO) $ 473.74 1.46%
mantra-dao
MANTRA (OM) $ 3.63 2.07%
dai
Dai (DAI) $ 1.00 0.05%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.28 2.45%
arbitrum
Arbitrum (ARB) $ 0.767809 1.46%
okb
OKB (OKB) $ 52.34 0.84%